How To Be A Teenage Millionaire – James Moore

How are you going to let people know your service/products are available? Will you need to advertise? Create a website? Give out fliers? Get publicity? Do your homework and find out how much this might cost. ‘Viral marketing’ means getting your product known via word of mouth. It’s a very effective sales tool, especially for the youth market, and it’s also very cheap. However it’s difficult to manage and very unreliable.

‘Interest on loans’ If you’re old enough to borrow money, the sad fact is that it’s not a gift, you’re going to have to pay it back. Boo! ‘Services’ If all this talk of money makes your head spin, you might need to hire an accountant pronto.

Find out how much he/she would charge. Sound daunting? It needn’t be. Here’s a guy who kicked off his first business at the tender age of 10. Fast facts Who: Whizz-kid who was setting up multi-million-pound deals before he was 19. Success factor: Set up his first company, aged 15, from his bedroom, then hit the big time with an Internet search tool called Waysearch. He was New Business Millennium Young Entrepreneur of the Year in 2000 and now runs a company called Rainmakers, which develops new technologies.

Trivia bite: Starred in Channel 4’s Secret Millionaire, where he went undercover to give away £40,000 to good causes. Did you always want to be a millionaire? No, being a millionaire wasn’t my aim when I was young. I knew I was different, and wanted to run my own thing. The money was more of a by-product of success, rather than being my goal. What was your first-ever business idea? ‘Megaswap’ was my first idea, where I charged a small fee to act as an agent, arranging swaps of cartridge computer games.

I was 10 at the time! What was the hardest thing about trying to achieve success in business as a teenager? Being young in business is a double-edged sword. On the one hand, people are impressed with someone so young being a competent businessman. On the other, people don’t take you so seriously. It’s also hard on a transactional basis – routine operations become very difficult; for example, obtaining a business bank account or arranging legal documents.

Did your dyslexia hold you back? That was never really a problem. My dyslexia causes me problems with remembering people’s names, and who I’ve met before, and that was difficult when meeting with businessmen.

How to be a Teenage Millionaire Judi James is an author, TV expert and business trainer who has had her own body-language series on prime-time TV. As a teenager Judi was much too distracted by boys and shopping to make any money but in Teenage Millionaire she has put together the type of tips that she wishes she’d read then! James Moore is a journalist who has written for the Daily Express, Sunday Telegraph and Daily Mirror. He also co-wrote the book Blagging It: How to Get Almost Everything on the Cheap.

James’s first published piece, for a national puzzle magazine, was a maze in the shape of an egg-timer. He was 10 years old and he was paid £5. www.teenmillionaire.co.uk how to be a teenage millionaire JAMES MOORE & JUDI JAMES PUFFIN PUFFIN BOOKS Published by the Penguin Group Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, USA Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, Canada M4P 2Y3 (a division of Pearson Penguin Canada Inc.)

Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi – 110 017, India Penguin Group (NZ), 67 Apollo Drive, Rosedale, North Shore 0632, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England puffinbooks.com First published 2007 1 Text copyright © Judi James and James Moore 2007 The acknowledgements on page 214 constitute an extension of this copyright page All rights reserved The moral right of the authors has been asserted ISBN: 978-0-14-191017-8 IMPORTANT NOTICE ON WEBSITES We’ve done our very best to make sure that the online information listed in this book is as appropriate, accurate and up-to-date as possible at the time of going to press.

However, information on the Internet is liable to change.

This is a short excerpt from the opening of “” by Unknown, quoted for review and introduction purposes. All rights belong to the copyright holders.

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• Language: English (en)

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